2. The overall evaluation of a company’s strengths, weaknesses, opportunities and threats is called SWOT analysis. It’s a way of monitoring the external and internal marketingenvironment.
The external environment, there are the opportunities and the threats. The business should set up a marketing intelligence system to track trends and importantdevelopments and any related opportunities and threats. Good marketing of a company is finding, developing and profiting from these opportunities. A marketing opportunity is apart of buyers need and interest that a company has a high probability of profitably satisfiying. Always opportunities can take many forms, but as a marketers, we need to be goodspotting them. An environmental threat is a challenge posed by an unfavorable trend or development that would lead, in the absence of defensive marketing action, to lower salesor profit.
The internal environment, there are strenghts and weaknesses. It’s one thing to find attractive opportunities and another to take advantatge of them. Each businesswill have to evaluate their strenghts and weaknesses.
It is very important for all companies to do a SWOT because it can proceed to develop specific goals for the planningperiod. The goal formulation is compound with a mix of objectives like profitability, sales growth, market share, risks, innovation, reputation, etc. The company will have toexercise control over these objectives and observe the results. The main objective of doing swot is getting better results in your actions. After doing it, you can have an overallevaluation of the present situation of the company. Positive and negative points, and overall view to find solutions and get new ideas to improve your economical results.
Leer documento completo
Regístrate para leer el documento completo.